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Stochastic Inventory Models

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The Logic of Logistics

Abstract

The inventory models considered so far are all deterministic in nature; demand is assumed to be known and either constant over the infinite horizon or varying over a finite horizon. In many logistics systems, however, such assumptions are not appropriate. Typically, demand is a random variable whose distribution may be known.

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Author information

Authors and Affiliations

  1. Massachusetts Institute of Technology, Cambridge, MA, USA

    David Simchi-Levi

  2. University of Illinois at Urbana-Champaign, Urbana, IL, USA

    Xin Chen

  3. Pine River Capital Management, New York, NY, USA

    Julien Bramel

Authors
  1. David Simchi-Levi
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  2. Xin Chen
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  3. Julien Bramel
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Simchi-Levi, D., Chen, X., Bramel, J. (2014). Stochastic Inventory Models. In: The Logic of Logistics. Springer Series in Operations Research and Financial Engineering. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-9149-1_9

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